A Theory of Global Capitalism: Radical Perspective
My personal response is formulated to counter arguments the book, “A Theory of Global Capitalism” by William Robinson. The book according to my personal view on chapter three analyzes the effect of politics and economic growth since the early 1970s. In this chapter, the author rather skeptic looks at the angle that globalization through transnational capitalism is affecting the world’s economy from a Transnational Capitalist Class (TCC) and Transnational state (TNS) point of view. However, an argument can be raised concerning the re-integration of transnational capitalism mechanism of the assessment chain in the ever-growing global webs containing international organization, savings and rights connections, and industry mergers. Hence, an argument can be raised of whether the present stage of globalization is reasonably diverse from the initial period of financial internationalism throughout what the righter has termed as a global preference of semi global fonts (Berch, 2005, p.56).
The theme of TCC and TNS are clearly show the relevance of globalization expressed in a theoretical manner. Evidently, globalization constitutes a continuous shift in the history of world capitalism. This is different from the known discontinuity or the rupture of the society into forms, which elucidate the presence of global organization. In theory, globalization from a TNS and TCC point of view can be seen as a culmination of development of relations inclined to the pre-capitalistic assumptions. This idea leaves the world in a new world where there is a unique connection, which holds all human beings around the world.
These arguments begs the question whether worldwide capitalism has by now entered a phase of calamity created by its precise formation. In chapter three, the view of the TCC and TNS brings the understanding of globalization as standing for a qualitatively novel structure of political financial order. The important features of TCC and TNS include "worldwide capitalism" which has speeded up development of global trade, the unusual internationalization and expansion of monetary services and markets, the division and globalization of manufacture development and the amalgamation of this mechanism of the economical value in ever- broadening international networks containing international organization, savings and possession linkages, and industry unions. Hence, the present stage of globalization is rather diverse from the initial age of financial globalization during the 19th and early 20th centuries. In chapter three, it is not at all comprehensible that financial leaders, without considering political leaders, have attained the self-awareness of a high class. For chapter three, much more proof would be required to demonstrate that associates of a TCC currently have a biased self-consciousness different from that of countrywide supported industrial elites (William, 2004, p.131).
I continue being cynical of the allurement that there is an emerging crisis of global capitalism and history is ending as alleged in chapter four. Countries continue being essential to the benefit of a transnational capitalism and function of the transnational state despite the changing g history. In fact, I agree with the author that global capitalism has come of age and has entered into a new phase where stability, growth, and prosperity are realized. However, this may not be applicable currently considering the fact that the global economy is facing a myriad of challenges. I also share the same argument with the author that the transnational elites in various countries have moved from the offensive ways of tackling issues to the defensive (William, 2004, p.146). Perhaps this is aimed at shielding them from further turmoil. If these countries can preserve different institutional agreements and individual strategies, it is vague what a novel global stage of scrutiny in stipulations of class and country structure adds to ones understanding as suggested by the author in chapter four. Country actor’s organizations tackle an extraordinarily diverse and more limiting global financial setting than that was there 30 years ago. As I personally view it, the only means for the transnational capitalist class to sustain its influence will be through increasing oppression of expelled classes globally (George, 2010, p.39).
In addition, as he author points out in this chapter, one ought not to rectify origins of the country clued-up by diminishing past circumstances. However, the country state still appears to be the key set of authority even if it is possibly limited within smaller restrictions. Even though, the WTO has urbanized some independent influence of its own in arbitrating and issue permits in operational disagreements, this is the exemption rather than the decree. Money, armed forces capacities, and rigid control are still mostly or mainly the territory of the country in their conventional territorial embodiment. They will probably remain as so for the anticipated future (William, 2004, p.187).
Berch, B. (2005). Globalization and Change: The Transformation of Global Capitalism.
George, R. (2010). Readings in Globalization: Key Concepts and Major Debates. Chicago. John
Wiley and Sons
William, R. (2004). Theory of Global Capitalism: Production, Class, and State in a
Transnational World. New York. JHU Press